§ 30-4-5-16 — Right to compensation

Indiana § 30-4-5-16

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 5: Rules Governing the Administration of a Trust

Text

(a) Unless the terms of the trust provide
otherwise, and except as provided in section 17 of this chapter, the
trustee is entitled to reasonable compensation from the trust estate for
acting as trustee.
(b) If the terms of the trust specify the trustee's compensation, the
trustee is entitled to be compensated as specified, but the court may
allow more or less compensation if:
(1) the duties of the trustee are substantially different from those
contemplated when the trust was created; or
(2) the compensation specified in the terms of the trust would be
unreasonably low or high.
(c) A trustee is entitled to be reimbursed out of the trust property,
with interest as appropriate, for:
(1) expenses that were properly incurred in the administration of
the trust; and
(2) expenses that were not properly incurred in the administration
of the trust, to the extent necessary to prevent unjust enrichment
of the trust.
An advance by the trustee of money for the protection of the trust gives
rise to a lien against trust property to secure reimbursement with
reasonable interest.
Formerly: Acts 1971, P.L.416, SEC.6. As amended by
P.L.238-2005, SEC.42.